The only real fix to Social Security’s problems? More babies.

The release of the annual Social Security trustees’ report is usually the occasion for some dolorous lament that we have inched another year closer to disaster. This year, however, I have good news! The industrious actuaries at the Social Security Administration, having ground through all the data, now think our nation’s looming entitlement meltdown looks slightly less catastrophic than it did last year.

They now forecast that the combined Social Security Trust Funds won’t be exhausted until 2035, a year later than they expected in 2023. They also see some improvement in...